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Accrual Accounting – A Glimpse of How it Works in Practice

In: Public Net Worth

Author

Listed:
  • Ian Ball
  • Willem Buiter
  • John Crompton
  • Dag Detter
  • Jacob Soll

Abstract

This chapter has two objectives. First, using a highly simplified, imaginary week in the life of a small country, we illustrate some of the critical differences between cash and accrual accounting. We see that accrual accounting paints a more realistic picture of the government's fiscal performance and position. The second objective is to show how accrual-based information can reframe decisions, when that information underpins the whole financial management system. We also explain why it is important that the key components of the financial management system—budgeting, appropriating, and reporting—are integrated.

Suggested Citation

  • Ian Ball & Willem Buiter & John Crompton & Dag Detter & Jacob Soll, 2024. "Accrual Accounting – A Glimpse of How it Works in Practice," Springer Books, in: Public Net Worth, chapter 6, pages 73-87, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-44343-5_6
    DOI: 10.1007/978-3-031-44343-5_6
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